Question: 3) Now let's suppose that we have the same account, but that interest is compounded. We will assume that the compounding occurs annually. Compounding means

Compounding means that each year you will add 2% of the previousvearsbalance

3) Now let's suppose that we have the same account, but that interest is compounded. We will assume that the compounding occurs annually. Compounding means that each year you will add 2% of the previousvearsbalance to the account. The amount of interest earned changes each year

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